There’s fools’ gold, and then there’s the real thing. From Egon von Greyerz at goldswitzerland.com:
Fool’s Gold comes in many guises, whether it is in fake paper money, Ponzi investment schemes, fake and manipulated gold derivatives, Bitcoin or just fake gold discoveries in Uganda, all of which are discussed in this article.
‘The tendency of an inconvertible paper money is to create fictitious wealth, bubbles, which by their bursting, produce inconvenience.’ – Lord Liverpool 1810 (UK Prime Minister 1812-27)
The elegant and understated courtesy of the English is well known. “Inconvenience” is for an early 19th century aristocrat what a modern Englishman today would call “bloody mess.“
Confucius described this trait already 2,500 years ago:
“The noble-minded are calm and steady. Little people are forever fussing and fretting.” – Confucius